Gold Kist (GKIS) Agrees to $21 Offer from Pilgrim's Pride (PPC)
Up)
Pilgrim's Pride Corporation (NYSE: PPC) and Gold Kist Inc. (Nasdaq: GKIS) announced that the two companies have entered into a definitive merger agreement under which Pilgrim's Pride will acquire all of the outstanding shares of Gold Kist common stock for $21.00 per share in cash.
The transaction, which was unanimously approved by the boards of directors of both Pilgrim's Pride and Gold Kist, has a total equity value of approximately $1.1 billion, plus the assumption of approximately $144 million of Gold Kist's debt.
The $21 offer tops a $20-a share offer Pilgrim's Pride last offered Gold Kist.
The transaction, which was unanimously approved by the boards of directors of both Pilgrim's Pride and Gold Kist, has a total equity value of approximately $1.1 billion, plus the assumption of approximately $144 million of Gold Kist's debt.
The $21 offer tops a $20-a share offer Pilgrim's Pride last offered Gold Kist.
You May Also Be Interested In
- UPDATE: SAP's (SAP) America Unit to Buy Ariba (ARBA) for $45/Share
- NBCUniversal in Talks to Buy MSNBC.com
- Barclays Maintains an 'Overweight' on CVS Caremark (CVS); Positive on Shares After Mee ing
Create E-mail Alert Related Categories
Mergers and AcquisitionsSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
